Freestone Capital Holdings LLC Increases Holdings in American Express (AXP)

Freestone Capital Holdings LLC raised its position in shares of American Express (NYSE:AXP) by 7.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,679 shares of the payment services company’s stock after buying an additional 2,090 shares during the quarter. Freestone Capital Holdings LLC’s holdings in American Express were worth $3,054,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Rothschild & Co. Asset Management US Inc. raised its stake in American Express by 2.3% during the third quarter. Rothschild & Co. Asset Management US Inc. now owns 574,006 shares of the payment services company’s stock valued at $61,126,000 after buying an additional 12,686 shares in the last quarter. Dundas Partners LLP raised its stake in American Express by 35.8% during the third quarter. Dundas Partners LLP now owns 114,995 shares of the payment services company’s stock valued at $15,725,000 after buying an additional 30,323 shares in the last quarter. Royal Bank of Scotland Group PLC raised its stake in American Express by 1.1% during the third quarter. Royal Bank of Scotland Group PLC now owns 230,579 shares of the payment services company’s stock valued at $24,555,000 after buying an additional 2,442 shares in the last quarter. Credit Suisse AG raised its stake in American Express by 9.2% during the third quarter. Credit Suisse AG now owns 1,367,230 shares of the payment services company’s stock valued at $145,597,000 after buying an additional 115,396 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in American Express during the third quarter valued at approximately $543,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Shares of American Express stock opened at $105.74 on Monday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $90.33 billion, a PE ratio of 18.01, a P/E/G ratio of 1.43 and a beta of 1.06. American Express has a twelve month low of $87.54 and a twelve month high of $111.77.

American Express (NYSE:AXP) last posted its earnings results on Thursday, October 18th. The payment services company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. American Express had a return on equity of 31.26% and a net margin of 9.51%. The firm had revenue of $10.14 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same period last year, the firm earned $1.50 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. As a group, research analysts expect that American Express will post 7.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 9th. Investors of record on Friday, October 5th were given a $0.39 dividend. This is a boost from American Express’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, October 4th. American Express’s dividend payout ratio (DPR) is currently 26.58%.

Several brokerages have issued reports on AXP. Zacks Investment Research cut American Express from a “hold” rating to a “sell” rating in a research note on Thursday, September 20th. Stephens upgraded American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 price target on the stock in a research report on Monday, September 17th. Bank of America set a $125.00 price target on American Express and gave the stock a “buy” rating in a research report on Friday, October 19th. Wells Fargo & Co increased their price target on American Express from $115.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. Finally, Morgan Stanley increased their price target on American Express from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $112.70.

In related news, Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $103.84, for a total value of $1,298,000.00. Following the sale, the chairman now directly owns 209,957 shares in the company, valued at approximately $21,801,934.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ventures Fund Vii L.P. Vivo bought 20,142,123 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was acquired at an average price of $0.17 per share, for a total transaction of $3,424,160.91. The disclosure for this purchase can be found here. 0.20% of the stock is owned by company insiders.

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American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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